In Heartland Retail, markdowns are recorded at the time of sale.Markdowns are calculated by taking the difference between the Original Price of the item and the Sold Price of the item. Once an item is sold at a discounted price, you can see the markdowns in reporting through a metric called "Source Sales >> Net Markdowns."
It is possible to mark down product prior to sale on the item record, by modifying the Current Price of the item on the item record, as shown below:
We understand that it is useful for inventory planning purposes to be able to report on the value of markdowns of inventory on hand (prior to the sale of the items). To derive the value of markdowns for inventory on hand in our reporting system, you will need to add two metrics to your report, as shown below:
The difference between "Original Price On Hand" and "Price on Hand" is your retail value on hand of markdowns taken.